Answer to Question #241791 in Finance for Bianca

Question #241791
What are the possible effects a high exchange rate could have on business prospects?
1
Expert's answer
2021-09-24T11:29:21-0400

A high exchange rate  leads to a higher-valued currency making a country's imports less expensive and its exports more expensive in foreign market. Therefore a high exchange rate worsens a country's balance of trade. Domestic companies therefore benefit from this as a result of increased sales, profits and jobs.


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